Envestnet Asset Management Inc. Trims Position in Simmons First National Corporation (NASDAQ:SFNC)

Envestnet Asset Management Inc. cut its stake in shares of Simmons First National Corporation (NASDAQ:SFNC) by 91.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,490 shares of the bank’s stock after selling 202,365 shares during the period. Envestnet Asset Management Inc.’s holdings in Simmons First National were worth $400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SFNC. Cresset Asset Management LLC grew its stake in shares of Simmons First National by 0.7% during the 4th quarter. Cresset Asset Management LLC now owns 76,711 shares of the bank’s stock worth $1,718,000 after purchasing an additional 546 shares during the period. OneDigital Investment Advisors LLC increased its stake in Simmons First National by 1.6% in the 1st quarter. OneDigital Investment Advisors LLC now owns 62,588 shares of the bank’s stock valued at $1,285,000 after purchasing an additional 966 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Simmons First National by 4.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 27,396 shares of the bank’s stock worth $613,000 after purchasing an additional 1,049 shares in the last quarter. Sowell Financial Services LLC increased its position in shares of Simmons First National by 7.7% in the first quarter. Sowell Financial Services LLC now owns 14,738 shares of the bank’s stock valued at $303,000 after buying an additional 1,056 shares in the last quarter. Finally, Jag Capital Management LLC boosted its position in shares of Simmons First National by 0.9% in the 1st quarter. Jag Capital Management LLC now owns 121,547 shares of the bank’s stock worth $2,495,000 after buying an additional 1,126 shares in the last quarter. 27.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Simmons First National

In related news, Director Russell William Teubner bought 4,050 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price of $18.50 per share, with a total value of $74,925.00. Following the completion of the transaction, the director directly owned 25,576 shares of the company’s stock, valued at approximately $473,156. This represents a 18.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Cosse bought 13,500 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price of $18.50 per share, with a total value of $249,750.00. Following the purchase, the director owned 104,120 shares of the company’s stock, valued at approximately $1,926,220. This represents a 14.90% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 89,555 shares of company stock worth $1,656,768 in the last quarter. 1.44% of the stock is owned by corporate insiders.

Simmons First National Price Performance

Shares of Simmons First National stock opened at $18.87 on Thursday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 14.86 and a beta of 0.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $19.26 and its 200 day moving average price is $19.99. Simmons First National Corporation has a twelve month low of $17.20 and a twelve month high of $25.95.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Simmons First National had a net margin of 11.19% and a return on equity of 5.23%. The firm had revenue of $214.18 million for the quarter, compared to analysts’ expectations of $217.21 million. During the same period in the previous year, the company posted $0.33 earnings per share. Simmons First National’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Simmons First National Corporation will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SFNC shares. Wall Street Zen upgraded Simmons First National from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Stephens cut their price objective on shares of Simmons First National from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. DA Davidson boosted their price target on Simmons First National from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their target price on Simmons First National from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Finally, Piper Sandler raised shares of Simmons First National from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $21.00 in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.75.

Simmons First National Company Profile

Simmons First National Corporation operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. The company offers checking, savings, and time deposits; consumer, real estate, and commercial loans; agricultural finance, equipment, and small business administration lending; trust and fiduciary services; credit cards; investment management products; treasury management; insurance products; and securities and investment services.